Mussel prices have remained static while operation costs have increased. (CBC) One of Prince Edward Island's biggest mussel processing plants is undergoing a major expansion with a $3.5-million government loan.
P.E.I. Mussel King, based in Morell, Kings County, said it has struggled during challenging times for the industry. Mussel prices have been static for 20 years, but operating costs have increased. The company will meet the challenges by improving its facilities, it said.
It is installing state-of-the-art equipment to produce value-added mussel products designed for the retail market. It hopes that will improve profits on the mussels.
Esther Dockendorff, president of P.E.I. Mussel King, said something needs to change and she believed the technological advances are a critical step in the right direction.
Innovation minister Allan Campbell agreed. The province's Island Investment Development is providing P.E.I. Mussel King with a loan of up to $3.5 million for the expansion.
"What we have here in P.E.I. Mussel King is a company that has been around for a long time — probably one of the pioneers here in the mussel industry," Campbell said.
"They have certainly recognized that the market is now demanding a different product line. They are moving towards value added and you know we're hoping that this type of a move will return more money to not just the company itself, but to the mussel farmers that they deal with."
Work on the expansion has already begun, but the project is not expected to be complete until November.
About 110 people work at the processing plant.
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